Charitable Gift Annuity

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Create a Sponsored Charitable Gift Annuity to Benefit East-West Center Foundation

A sponsored charitable gift annuity (CGA) allows you to leverage your generosity while producing tax savings and a fixed annuity that can provide great benefits to you, your family and the East-West Center.

A CGA is a contract in which a donor makes a gift today in return for a fixed lifetime annuity from the Hawai‘i Community Foundation (HCF). The donor receives a tax deduction on the net value of the gift. The annuity is payable to the donor or someone they designate, called the “annuitant.” Up to two annuitants can be named. Through the contract, the donor directs the remaining balance (called the “residuum”) left at the death of the annuitant(s) to benefit the East-West Center.

How does it work?

  1. Set up your fund – Fill out a CGA application. HCF will work with East-West Center Foundation and your professional advisor to determine the best way to design your CGA based on your personal situation and charitable interests.
  2. Receive annuity payments – Once you enter into a CGA, it will provide a lifetime fixed annuity payout for up to two annuitants.
  3. Leave A Legacy – At the end of the CGA term (e.g. the death of the annuitant(s)), the residuum can be used to support the East-West Center in one of two ways - you decide.

Option 1 – ENDOWMENT: Places 90% of the residuum into a fund at HCH to perpetually support East-West Center and 10% will go to HCF to supplement its CGA reserves.

Option 2 – OUTRIGHT: Distributes 50% of the residuum outright to East-West Center to support our mission, 10% goes to HCF to supplement its CGA reserves, and the remaining 40% goes to HCF discretionary fund to be used for unrestricted purposes.

When should I consider a CGA?

  • You are 60 or older.
  • You are a resident of the State of Hawai‘i.
  • You wish to provide a legacy gift to the East-West Center.
  • You want the security of a fixed payout arrangement that runs for life.
  • You have assets of $50,000 or greater that you are able to gift to establish a CGA, such as cash, funds earning low interests, or appreciated securities.
  • You seek a charitable tax deduction.

What are the benefits of a CGA?

  • CGAs are easy to create – the agreement is a simple contract between you and HCF.
  • The annuitant receives fixed annuity payments for life.
  • Part of the annuity payments may be tax-free.
  • An immediate charitable tax deduction for a portion of the gift.
  • No capital gains tax is owed on appreciated property used to start a CGA.
  • The gift ultimately benefits the East-West Center.

For more information about creating a sponsored CGA, contact Gary Yoshida, Development Officer, at 808.944.7196 or YoshidaG@EastWestCenter.org